SEC Chairman Gary Gensler reiterated that the bulk of cryptocurrencies are securities.
Gensler stated that centralized and decentralized exchanges should also register with the SEC.
SEC Chair Wants To Work With Token Producers
The SEC Chairman is asking his staff to work with token producers to align.
Gensler stated that only a small part of the crypto market is not securities. Gensler once again declined to comment on Ethereum, making it clear that Bitcoin is a commodity.
According to Gensler, decentralized and centralized cryptocurrency exchanges list many securities, so they have to register with the SEC. This is a factor that will ensure the protection of investors.
Gensler wants both securities and non-security assets to coexist. That’s why it wants crypto brokers to also register with the Commodity Futures Trading Commission (CFTC).
Gensler expressed his desire for the regulator to maintain his authority, adding that they would like to work with Congress on crypto-related legislative initiatives.
